Loomis Sayles & Co. L P Sells 20,077 Shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE)

Loomis Sayles & Co. L P reduced its holdings in shares of Xenon Pharmaceuticals Inc. (NASDAQ:XENE) by 2.8% during the fourth quarter, Holdings Channel reports. The fund owned 687,145 shares of the biopharmaceutical company’s stock after selling 20,077 shares during the period. Loomis Sayles & Co. L P’s holdings in Xenon Pharmaceuticals were worth $26,936,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in shares of Xenon Pharmaceuticals by 3.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,592 shares of the biopharmaceutical company’s stock valued at $535,000 after purchasing an additional 493 shares in the last quarter. KBC Group NV grew its stake in shares of Xenon Pharmaceuticals by 39.8% during the fourth quarter. KBC Group NV now owns 2,742 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 780 shares during the last quarter. HighVista Strategies LLC increased its holdings in shares of Xenon Pharmaceuticals by 1.4% in the third quarter. HighVista Strategies LLC now owns 73,762 shares of the biopharmaceutical company’s stock worth $2,904,000 after buying an additional 1,047 shares during the period. HighMark Wealth Management LLC lifted its stake in shares of Xenon Pharmaceuticals by 22.0% in the 4th quarter. HighMark Wealth Management LLC now owns 6,100 shares of the biopharmaceutical company’s stock valued at $239,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Xenon Pharmaceuticals by 1.0% during the 4th quarter. Swiss National Bank now owns 126,600 shares of the biopharmaceutical company’s stock valued at $4,963,000 after acquiring an additional 1,300 shares during the period. 95.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ian Mortimer sold 22,468 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $40.20, for a total value of $903,213.60. Following the sale, the chief executive officer now directly owns 31,302 shares of the company’s stock, valued at $1,258,340.40. This represents a 41.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.52% of the stock is owned by corporate insiders.

Xenon Pharmaceuticals Price Performance

Shares of NASDAQ XENE opened at $34.46 on Friday. Xenon Pharmaceuticals Inc. has a 1 year low of $33.11 and a 1 year high of $46.00. The stock has a market capitalization of $2.64 billion, a P/E ratio of -12.22 and a beta of 1.26. The company’s 50-day moving average is $37.80 and its 200 day moving average is $39.76.

Xenon Pharmaceuticals (NASDAQ:XENE) last posted its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.05. Research analysts anticipate that Xenon Pharmaceuticals Inc. will post -3.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on XENE shares. William Blair reaffirmed an “outperform” rating on shares of Xenon Pharmaceuticals in a research note on Friday, February 28th. HC Wainwright reiterated a “buy” rating and set a $53.00 price target on shares of Xenon Pharmaceuticals in a report on Monday, February 24th. Royal Bank of Canada reissued an “outperform” rating on shares of Xenon Pharmaceuticals in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Xenon Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $67.00 price objective for the company. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Xenon Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $57.38.

Xenon Pharmaceuticals Profile

Xenon Pharmaceuticals Inc, a neuroscience-focused biopharmaceutical company, engages in the development of therapeutics to treat patients with neurological disorders in Canada. Its clinical development pipeline includes XEN1101, a novel and potent Kv7 potassium channel opener, which is in Phase 3 clinical trials for the treatment of epilepsy and other neurological disorders.